Leasing Customer Inserts His/her Name Customer Inserts Name of Tutor Customer Inserts Grade/Course (December 11, 2011) Outline ➢ Introduction ➢ Changes in Leasing accounting ➢ Effect of the changes on the industry ➢ Conclusion A lease is a contractual arrangement calling for the lessee (user) to pay the lessor (owner) for use of an asset for a certain time. Leasing is
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Week 8 Assignment: Multinational Acquisition PepsiCo & Quaker Oats “Multinational Acquisition: PepsiCo & Quaker Oats” Briefly describe the acquisition you have selected. PepsiCo, Inc. is a multinational corporation with product sales in over 200 countries and territories. One billion times per day, PepsiCo customers consume one of their numerous food and beverage products. The merger agreement between PepsiCo and Quaker Oats dated December 2, 2000 (completed
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Chapter 4 study guide 1. The International Accounting Standards Committee (IASC) issued a total of ______ International Accounting Standards (IAS) during the period 1973–2001. 2. The International Accounting Standards Board issued a total of 14 _____ ________ _______ ______ from 2001 to present. 3. In many cases, IFRS are more __________ than U.S. GAAP.. 4. Inventory is an example of IAS that provides less extensive guidance than U.S. GAAP. a. True/False 5. What should include in the cost
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Rindu Rika Gamayuni ABSTRACT The Indonesian Financial Accounting Standards needs to adopt IFRS, so that the Indonesian financial reports can be accepted globally and the Indonesian companies are able to enter the global competition to attract the international investors. Currently, the adoption by Indonesian PSAK is in the form of harmonization, which means partial adoption. However, Indonesian is planning to fully adopt the IFRS by 2012. Such an adoption will be mandatory for listed and multinational
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February 25, 2016 In Focus Accounting Standards Update No. 2016-02, Leases (Topic 842) On February 25, 2016, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) intended to improve financial reporting about leasing transactions. The ASU affects all companies and other organizations that lease assets such as real estate, airplanes, and manufacturing equipment. The ASU will require organizations that lease assets—referred to as “lessees”—to recognize
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| | | | |Subject Name: |Accounting Theory | | | | |Location & Campus (SGS or HN) where you study:
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a standard set of accounting standards. The European Union took a momentous step in 1999 by adopting the Euro as the standard currency for its 27 member states. It currently has the highest total gross domestic product (GDP) of any economy and is a member of the International Financial Reporting Standards (IFRS) which is viewed as the standard for the global economy. The United States has also become committed to integrating into a global set of standards, vowing to join the IFRS which already oversees
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Background Big World Company (BWC), a private company, began its operations on January 1, 2010. It is a US-based company with a December 31 year-end. BWC has kept its accounting records in accordance with US GAAP and all required adjustments to reflect results in accordance with US GAAP have already been correctly recorded. As of January 31, 2011, the statement of financial position, the statement of comprehensive income and some related footnotes have been drafted as part of the year-end financial
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International Business Research Vol. 2, No. 2 Harmonization of Accounting Standards through Internationalization Nikhil Chandra Shil, ACMA (Corresponding Author) Department of Business Administration East West University 43, Mohakhali C/A, Dhaka – 1212, Bangladesh Tel: 9887989(Off.) ext 253, 01819289589 (M) E-mail: nikhilacc@yahoo.com Dr. Bhagaban Das P.G. Department of Business Management, Fakir Mohan University P. O.: Balasore, Pin.: 756019, Orissa, India E-mail: bhagaban_fm@yahoo.com Alok
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Revenue Recognition Dilemma U.S. GAAP Authoritative Guidance Accounting Standards Codification (ASC) 605-10-25-1 The recognition of revenue and gains of an entity during a period involves consideration of the following two factors, with sometimes one and sometimes the other being the more important consideration: a. Being realized or realizable. Revenue and gains generally are not recognized until realized or realizable. Paragraph 83(a) of FASB Concepts Statement No. 5, Recognition and Measurement
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